VIENTIANE, March 14 (VNA) – Vietnam and Laos has signed an Agreement on Goods Transit in Vientiane during a Laos visit by Vietnamese Minister of Industry and Trade Vu Huy Hoang from March 13-14.
The signing, which took place at talks between Hoang and his Lao counterpart Nam Vinaketh, aims to create favourable conditions for the distribution of goods from the two nations to a third country.
The two sides noted remarkable growth in bilateral trade last year with two-way trade expanding by 35.5 percent from 2007 to reach 422.8 million USD.
They also signed a working minute highlighting focal tasks for this year, including a project on trade development until 2015, developing border markets, organising a Vietnam-Laos trade fair and boosting cooperation in industry and training.
Minister Hoang was received in Vientiane on March 13 by Laos Prime Minister Buasone Bouphavanh, who said that the Lao Government and relevant agencies would create favourable conditions for Vietnamese businesses to implement investment projects in Laos.
Laos’ industry, trade, mining and energy sectors are the main contributors to the high investment and cooperation rates between the two countries. Solving a number of long-standing problems that hinder cooperation projects between those sectors would contribute to improving the cooperation between the two countries.
The Lao PM and his guests exchanged views on the implementation of Vietnamese electricity projects in Laos and assigned the Lao Energy and Mining Ministry to collate investors’ opinions on the subject, which will then be submitted to the PM.
He thanked the Vietnamese Government for its pledge to support Laos’ accession to the WTO.
Minister Hoang reported to the PM that his ministry also plans to sign with Laos’ Ministry of Energy and Mining a memorandum of understanding regarding increased cooperation between the two countries in this field.
The two sides will review the implementation of cooperation programmes and draw up plans for the future.
Hoang said he intends to discuss with the Lao side a previously-signed agreement, granting each other special preferences and recognition of goods originating in each country, as well as reviewing the implementation of current Vietnamese projects in Laos, including electricity projects.
Hoang said that Vietnamese investors in Laos have pledged to fulfill agreements with the Lao Government and asked Laos to supplement a number of policies to ensure that they are compatible with investment projects in the fields of science and technology. (VNA)
from:mcot.net
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